Canada's Cenovus Energy Seeks to Cut Costs, Double Production in Less Than a Decade

CALGARY, Alberta—Cenovus Energy Inc. aims to bring methods more common to the factory floor to Alberta's oil sands in a bid to cut costs per barrel by up to half and double production in less than a decade.

"What we want to do is take manufacturing techniques, where we use the same template over and over again, for [building] mostly the same surface facilities" for equipment needed to extract oil from deep underground,...